Complications
Patek’s catalog grouping for the annual calendar, world time, travel time, and perpetual calendar references that do not live inside the Calatrava or Nautilus lines. The Annual Calendar 5396 (cal. 324 S QA LU 24H) and Perpetual Calendar 5327 (cal. 240 Q) are the family’s two most-traded references; both run in the 38.5–39mm dress band on the in-house micro-rotor automatic platforms.
References in this family
Which ref to buy
Patek's complications collection spans annual calendars through perpetual calendars. These are the watches that define what a complicated Patek means -- long hold times, strong secondary demand, generational assets.
- 1Open
Perpetual Calendar 5327G -- the purist perpetual calendar and one of Patek's most enduring references.
- The case for it:
- Cal. 240 Q, perpetual calendar with retrograde date, moonphase, leap year indicator. White gold, 38mm, no chronograph. The 5327 is the clean perpetual calendar -- all of the complication, none of the visual noise. The 240 Q movement is 2.53mm thick. Strong secondary demand; this is a generational hold.
- Consider instead if:
- The perpetual calendar requires correct setting knowledge. An incorrectly advanced calendar mechanism can cause damage. Study the setting procedure before purchasing.
- 2Open
Annual Calendar 5396 with Moonphase -- the practical alternative for buyers who want less maintenance than a perpetual.
- The case for it:
- Cal. 324 S QA LU 24H, annual calendar (one correction per year, in March), moonphase, 24-hour indicator, power reserve display. The annual calendar is the most practical calendar complication for daily wear. The 5396 adds moonphase and power reserve to make it Patek's most information-rich annual calendar dial.
- Consider instead if:
- The perpetual calendar requires correction only once every four years (2100). If you are already committed to managing a complication, the perpetual is the stronger long-term hold.
- 3Open
Perpetual Calendar 5320G -- the more recent perpetual with the full perpetual calendar under a cleaner dial.
- The case for it:
- Cal. 26-330 S QA LU 24H/303, perpetual calendar, moonphase, twin-barrel, in-line lever. A more recent caliber than the 5327's 240 Q with a different aesthetic approach. Strong secondary demand alongside the 5327.
- Consider instead if:
- Between the 5327 and 5320G, choice is primarily aesthetic -- dial layout and proportions. Both are strong long-term holds.
Rankings last reviewed 2026-06-06. Editorial perspective only. Not financial advice.